Google Suspends Bitcoin and Cryptocurrency Content on YouTube

It has just been about a year Google lifted the three-month ban on the ads of Bitcoin and Cryptocurrency on its video-sharing website – YouTube – , which led to the drastic drop of the price of Bitcoin, but the relationship and understanding between them has gone sour yet again.This time, over a hundred videos of Bitcoin and Cryptocurrency has been removed from YouTube by Google, referred to as the “crypto purge”. In this feud, those who earn money from creating Bitcoin and Cryptocurrency videos are actually the ones who believe they are affected and subsequently at loss.

Who does it Effect?

However, from the analysis of the accounts affected by the YouTube crypto-purge, it is observed that only smaller channels and publishers, whereas the cryptocurrency and bitcoin videosof CNBC, U.S business news and CoinTelegraph, a crypto news outlet, where exempted from the purge. Crypto experts on YouTube have made enquiries on what could be the reason for the purge and the statement released by Google for being the reason why the bitcoin and cryptocurrency videos were removed stated that the contents were “harmful and dangerous” was not satisfactory to the experts. The ban is similar to other sites purging crypto gaming sites in the past. This has resulted in outburst from different individuals on the YouTube platform via social media channels especially Twitter, as they react and demand explanations from Google regarding the crypto-purge.

Contesting the Ban

A YouTube video expert, Chris Dunn, who has been using the video-sharing site for over ten (10) years and has been able to get about 200,000 subscribers with over 7 million views on his channel, has decried on this act. He stated that most of his videos that were crypto-related were just terminated by YouTube, declaring the videos as “sale of regulated goods”. Most persons into Bitcoin and cryptocurrency who use YouTube have announced that they will contest the ban of the videos, as the accounts affected are increasing into hundreds. The decision for      this contest is made because most channels owners believe that YouTube is the perfect plug for anyone who intends venturing into Blockchain technology and cryptocurrency, an educative and enlightening platform where you can learn the basics of the industry. And according to Ran NeuNer, the Crypto trader show host on CNBC, the removal of the crypto and Bitcoin content is a major setback to the industry.

Is it True Protection?

Most persons had the impression that perhaps Google were trying to protect subscribers from scams and cyber thefts, but according to Mati Greenspan, the founder of research group Quantum Economics, he mentioned that the assumed protection from Google isn’t a substantial reason to block crypto-related video contents due to the fact that they – Google – had just reversed the ban that they placed on Bitcoin and cryptocurrency recently, after investigations and regulatory clarity proved that they weren’t frauds. Notwithstanding, the price for bitcoin has increased over the last year as there has been rise in demand for bitcoin and other crypto-coins from some of the largest organizations and companies in the world. The need for an alternative is paramount with the block of crypto content on YouTube as implied by the statements of the founder and CEO of Binance, Changpeng Zhao, on Twitter.